Author Bio
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead.
Infrastructure spending has been the topic of many investment discussions recently. There is rare bipartisan agreement that there is a need to upgrade traditional infrastructure like roads, bridges, ports, and airports. But politics being what it is, the devil is in the details as to whether there will agreement on a large spending package.
CME Has Third-Most Active Quarter
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Terry Duffy, chairman and chief executive of CME Group, said the exchange had a solid rebound in volumes, including interest rate contracts, in the first three months of this year which represented its third most active quarter ever.
Duffy said on the results call that volumes averaged 22 million contracts per day in the first quarter, with approximately 6 million per day from Europe and Asia. Open interest climbed above 100 million contracts as clients looked to manage risks associated with the potential for a post-pandemic economic recover according to the exchange.
“We had record activity in the first quarter of 2020 at the start of the pandemic when we averaged 27 million contracts per day,” he added “Importantly, we had a nice rebound from the back half of the year in 2020.”